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Europe, Middle East and Africa lead contract award activity in the oil and gas industry in Q4 2018

Europe, Middle East and Africa lead contract award activity in the oil and gas industry in Q4 2018

In quarter four 2018, the oil and gas industry reported 1180 contracts, of which 1132 were awarded contracts, according to GlobalData, a leading data and analytics company.

The company’s latest report: ‘Quarterly Oil & Gas Industry Contracts Review’ states that the upstream sector reported 75% of the total awarded contracts, with 852 contracts. The midstream sector recorded 164 contracts, representing 14% of the total awarded contracts, followed by 98 contracts in the downstream sector; representing 9% of the awarded contracts during the quarter.

Europe, the Middle East and Africa (EMEA) recorded the most contracts with 487 contracts, representing around 43% of the total awarded contracts in Q4 2018. Americas region closely followed with 449 contracts, accounting for 40% of the total awarded contracts.

Operations and maintenance represented 64% of the awarded contracts in Q4 2018, followed by contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, which accounted for 12%.

One of the high value contracts was Petrofac, Saipem, and Samsung Engineering consortium’s US$ 4 billion contract from Thai Oil for the Engineering, Procurement, Construction and Commissioning (EPCC) services for Clean Fuels Project at Sriracha refinery in Chonburi, on the East coast of Thailand.

Other notable contracts during Q4 2018 included Saipem and Renaissance Heavy Industries joint venture’s contract worth €2.2bn (US$2.5bn) for the construction of three Liquefied Natural Gas (LNG) plants, as well as LNG storage facilities for Arctic LNG 2 project in the Gydan Peninsula, Russia; and BHGE, McDermott International, and LTHE consortium’s subsea contract was worth approximately US$1,694.45 million the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) of Subsea Production Systems (SPS) including 34 deepwater trees, and Subsea Umbilicals, Risers and Flowlines (SURF) for 34 wells for the development of block DWN-98/2 in the Krishna Godavari basin, off the East Coast of India.

GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.


 

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.